Saturday, February 28, 2009


the Econ Review

On reviewing this image from a link in the previous blog entry, I noted something. The author has noted the date of freezing wages and prices with a red bar. Look before the preceding point and see if you can find March, 1964. I know you can. That is the point where the minor dance of values makes an abrupt first turn up. It happened almost immediately on the end of anchored currency. There was an instinctual reaction in the Market. People knew even if they didn't realize they knew what was happening to them.

This illustration is borrowed from the Econ Review, a publication of Professor of economics William R. Parke at the University of North Carolina, Chapel Hill. I hope he will forgive me for this uncleared use of his work.

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